I know you've sold your properties but for other wholesalers, if you use ARV - Repair Value = Profit, 9 times out of 10 you will get ignored or not taken seriously.

Then I ask them If I should ignore a good buyer for the property that does not have at least 8k.

It ignores vacant unit, clean up and marketing between tenants, eviction costs, damage, routine maintenance like the roof, hot water heaters, appliances, lawn care, snow removal, etc etc etc etc that are all real costs whether on an annual or some other recurring basis.In most places, if you can offer an investor a property with little deferred maintenance that is generating rents at 2% of purchase price, they are going to jump all over it.

How do they ignore these items, you ask?

Although some may think like you.In the value process, you can not skip over comps or ignore comps in any manner.

That said, it's just my opinion, and anyone is welcome to ignore it...Btw, I'm curious to hear about some of the information that was provided at the $299 seminar that's not available for free (or much cheaper) here on BP and in other places?

Lets ignore the vacation home aspect first

Its either Ignorance, or Evil Genius.

Still, you want to maximize this percentage and so we can pretty much completely throw out and ignore anything we can't charge at least 1% of the price, so the second one which would cash flow like 50$ is gone.The first one depending on your goals is at least feasible, as Jon said it would probably cash flow 200+ a month on average with a cash return of 7-10% depending on if you did the management.

I seriously doubt any lawyer would even bother trying to get you involved, but if that were to happen, go find a decent real estate attorney to help you out.Also, if you listed on the MLS, I assume you have an agency relationship with a broker, regardless of whether that agent is heavily involved in the transaction or not (unless you have some MLS or state rules that allow you to list without a broker, in which case, ignore this point).